Vident Advisory LLC Makes New Investment in ESAB Co. (NYSE:ESAB)

Vident Advisory LLC purchased a new position in shares of ESAB Co. (NYSE:ESAB - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,368 shares of the company's stock, valued at approximately $404,000.

Other large investors also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its stake in ESAB by 70.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 218 shares of the company's stock worth $26,000 after purchasing an additional 90 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in ESAB during the fourth quarter worth $36,000. Kapitalo Investimentos Ltda acquired a new position in ESAB during the fourth quarter worth $47,000. Quadrant Capital Group LLC lifted its stake in ESAB by 15.6% during the fourth quarter. Quadrant Capital Group LLC now owns 682 shares of the company's stock worth $82,000 after purchasing an additional 92 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC acquired a new position in ESAB during the fourth quarter worth $83,000. 91.13% of the stock is currently owned by institutional investors and hedge funds.

ESAB Price Performance

Shares of ESAB stock traded down $0.97 during midday trading on Friday, reaching $122.83. 251,964 shares of the company traded hands, compared to its average volume of 278,149. The firm's 50 day simple moving average is $119.64 and its two-hundred day simple moving average is $122.13. ESAB Co. has a 1-year low of $88.54 and a 1-year high of $135.97. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.82 and a quick ratio of 1.25. The firm has a market cap of $7.45 billion, a PE ratio of 28.43, a price-to-earnings-growth ratio of 2.01 and a beta of 1.36.

ESAB (NYSE:ESAB - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported $1.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.18 by $0.07. ESAB had a net margin of 9.66% and a return on equity of 17.43%. The company had revenue of $678.14 million during the quarter, compared to the consensus estimate of $633.66 million. During the same period last year, the firm earned $1.20 EPS. The company's revenue for the quarter was down 1.7% on a year-over-year basis. On average, equities research analysts expect that ESAB Co. will post 5.16 EPS for the current fiscal year.

ESAB Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Thursday, July 3rd will be given a dividend of $0.10 per share. This is an increase from ESAB's previous quarterly dividend of $0.08. This represents a $0.40 annualized dividend and a dividend yield of 0.33%. The ex-dividend date is Thursday, July 3rd. ESAB's payout ratio is currently 9.01%.

Insider Buying and Selling

In related news, insider Olivier Biebuyck sold 1,417 shares of ESAB stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $131.15, for a total transaction of $185,839.55. Following the completion of the transaction, the insider now directly owns 14,989 shares in the company, valued at $1,965,807.35. The trade was a 8.64% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 7.30% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Robert W. Baird set a $143.00 price objective on ESAB in a research note on Friday, May 2nd. JPMorgan Chase & Co. raised their price objective on ESAB from $133.00 to $140.00 and gave the stock an "overweight" rating in a report on Tuesday, March 18th. Stifel Nicolaus raised their price objective on ESAB from $109.00 to $126.00 and gave the stock a "hold" rating in a report on Friday, May 2nd. UBS Group raised ESAB from a "neutral" rating to a "buy" rating and raised their price target for the stock from $123.00 to $147.00 in a report on Tuesday, April 1st. Finally, Evercore ISI raised their price target on ESAB from $120.00 to $125.00 and gave the stock an "in-line" rating in a report on Monday, May 19th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $137.22.

ESAB Profile

ESAB Corporation engages in the formulation, development, manufacture, and supply of consumable products and equipment for use in cutting, joining, automated welding, and gas control equipment. Its comprehensive range of welding consumables includes electrodes, cored and solid wires, and fluxes using a range of specialty and other materials; and cutting consumables comprising electrodes, nozzles, shields, and tips.